What is Medical Alarm System?
Medical Alarm System are electronic device or a mechanism through which the elderly people can call for emergency and non-emergency medical help with the push of a button which can be mobile pers based or landline based pers. The innovation and investment in improved connectivity technology has enabled greater applications of technology to better serve the needy. Rising population of Geriatrics is demanding higher number of medical alarm systems. Although the Technology is very less known in Developing Countries, poor digital interaction of elderly from developing countries is also a major hurdle for the growth of this market. But if overcome with simple interfaces, this market has huge potential to grow. Other than individuals, hospitals, clinics and elder citizen homes are also increasingly adopting use of medical alarm or alert systems to better cater their elderly patients. Geographically, Asia Pacific is expected to be biggest market primarily because of rising elder citizen population in countries such as South Korea and Japan, as well as elsewhere. Europe and North America are expected to follow Asia Pacific as next big markets.
The market study is broken down by Type (Static (Car Based, Home Based) and Mobile (Pendant, Watch, Wrist Band, Mobile Device)), by Application (Home-based Users and Senior Living Facilities) and major geographies with country level break-up.
Bay Alarm (United States), Koninklijke Philips N.V. (Netherlands), ADT Inc. (United States), Valued Relationships, Inc. (United States), Connect America (United States), Medical Guardian LLC (United States), Galaxy Medical Alert Systems (Canada), Alertone Services LLC (United States), Blue Linea (France) and MobileHelp (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Vanguard Wireless (Australia), Arvi (India) and Electronic Caregiver (United States).
AdvanceMarketAnalytics has segmented the market of Global Medical Alarm System market by Type, Application and Region.
On the basis of geography, the market of Medical Alarm System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel , the sub-segment i.e. Online will boost the Medical Alarm System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System Type , the sub-segment i.e. Landline Based PERS will boost the Medical Alarm System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2020, TigerConnect, Industry established leader in healthcare communication solutions announced completion of acquisition of Critical Alert, which is a provider of middleware suite of products for healthcare. TigerConnect aims to integrate Critical Alertís expertise into its platform, this way the company can be able to offer a wide array of alert types and alarm management solutions.
In 2019, Arvi, India based healthcare Start-up announced launch of a smart medical alert system consisting of several push buttons, in India for elderly citizens. Which offers 34/7 emergency and non-emergency medical assistance.
- Inclusion of Artificial Intelligence in Medical Devices
- Increasing Investment in Health Care Infrastructure
- Enhanced Focus on Geriatrics
- Strategic Partnerships with Medical Chains or Local Government Bodies
- Large Population of Elderly People in Certain Countries
- Delayed Response Time by Medical Teams
- Rising Competition Due to Presence of Smart Phones
- Limited Awareness Regarding Medical Alarm Systems
Key Target AudienceMedical Alarm System Manufacturers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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